DCC expects double-digit growth

MARKETING and distribution group DCC Plc posted a smaller-than-expected fall in half-year earnings yesterday and said it expected to nudge into double-digit earnings growth in the second half.

In September, DCC warned trading in IT distribution had worsened and this, combined with the first-time impact of seasonally loss-making Shell Direct UK fuels supplier, meant adjusted earnings per share would fall by around 10% in the first half.

The cost of the insider dealing case taken by fruit importers Fyffes against its former shareholder DCC could top €20 million, making it one of the most expensive cases in the history of the State.